If you haven't seen or heard mortgage rates are at 50 year lows. I refinance our less than 3 year old home to a 1% lower rate, should save $20k over the life of the loan. Went from 3.7% to 2.7% It's a VA loan so the refinance has to pay for its self in 3 years or less. Anyone with a housing bubble mortgage form about 10 to 15 year mortgage should think about getting a lower rate and putting it on a 15 year note. You may be able to pay fewer years and at a lower payment.
I called Farm Credit and they said they could lower my rate from 4.1% to 2.85%. I'm thinking about buying the land behind me and moving it all to a 30 year at 3.3%.
Stupid democrats turned that around fast. Mortgage rates are now up to a 10 year high and climbing. So in 25 months they took us from 50 year lows to 10 year highs. There is no way this is an accident. So much for "the party that cares about poor people" and thinks "home ownership is a right". Mortgage rates reach 10-year high, will it impact housing demand? It's effing MSN dot com.
All these libs seeing all these F-ups or deliberate sabotages of our economy they're micro dosing red pills and don't even know it. My vote is deliberate sabotage. There's no way they can absolutely F-up every single fiscal and economic policy this bad on accident.
Just as a quick note. My credit union: 30 yr fixed is 6 percent with 1.85 points 15 yr fixed is 5.125% with 1.65 points. People are saying that is an outrageous rate. Well, yeah when compared to zero fed fund rate induced mortgage rates of sub 2 percent then yeah. But when compared to my parents mortgage rate of 16+ in the 80s, it's cheap. My first house in the early 90s of 8.675 percent, the current rate seems reasonable.
VT, think of all the positives of the last year. No more Indian on Land-o-Lakes margarine, NFL and MLB teams have taken more inconspicuous non-offending names, and... Come on, man! 8^)
I am positive. I am positive i'm going to take the 6 percent 30 year mortgage and pay it off in 3 years. seller accepted my offer for the house like 15 minutes ago.
Our first house mortgage was 6% in 1973, took 10 years to pay it off... Then sold it for double what we paid for it, and built a New house at 12% and sold it 10 years later for double and banked the proceeds, ands then bought Beach Front land in bush Alaska with cash, and held it for 30 years, and traded it for for our Place we own now in Alaska.. and still have 6 figures in the sock... with NO Debt...
I closed on a house at the beginning of March with a fixed 4.5% rate for 30 yrs. All ready makin multiple payments and paying down the balance.
